It Really Happened: 100% Financing for an $8m Business | Renan Cortez Interview
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- Опубликовано: 23 июл 2024
- 100% seller financing… The idea that you can buy a business with little to no money. The seller of the business finances the whole acquisition price for you. Too good to be true? Usually, yes. And even when 100% seller-financed deals do happen, it's often one business buying another where the seller doesn't have other options. It's not going to be an individual off the street, a searcher, buying a sizable, attractive business with 100% seller financing. But… there are exceptions to the exceptions. Today's guest did what I just said doesn't happen. Renan Cortez bought an $8m restoration business in a 100% seller-financed deal. We spend a lot of time on how he pulled that off. And at the risk of belaboring the point, we don't advocate this approach. Renan himself doesn't, as you'll hear. There was an alignment of the stars that happened here, that is more fluke than playbook. But still, a great case study to learn what we can from. Here's Renan Cortez, owner of Syndicate Building Solutions.
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00:00:00. Renan’s transition from military to corporate
00:03:54. His weight gain wake-up call
00:07:23. Focusing on a cannabis start up
00:14:46. Renan learns about acquisition
00:18:56. Renan starts searching for a business
00:28:36. Using a VA to find businesses
00:31:45 Renan buys a restoration company
00:37:25. Convincing the owners to finance the deal
00:51:26. The risk and reward of seller financing
00:55:56. Lessons from the first year
01:03:01. Exploring the restoration business
01:08:35. Rebranding the business
01:10:42. Raising capital and future plans
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Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week.
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Hoping Renan comes back for Part 2 in 1 year
Second request for this already!
Hi Acquiring Minds Team,
I just wanted to take a moment to thank you for the incredible content you produce on your RUclips channel. Your insights and the knowledge shared by your guest speakers have been immensely useful for me. The way they discuss buying small businesses is truly enlightening.
Your channel has been a great inspiration for me and others, and today’s interview was particularly awesome! I would love to know more about what a VA is and could you also provide details on the two people who assisted Renan in finding off market deals?
Please keep up the excellent work-your content is making a significant impact!
Best regards,
Kingsley
Thank you for that Kingsley.
VA = virtual assistant.
I'm sure if you reach out to Renan directly, he'll be happy to share a few pointers on how to find a good one.
@@AcquiringMinds Thanks for your speedy response. I have reached out to Renan via his email, currently waiting for his response.
Great content Will. Greatly appreciated!! This podcast is absolutely motivating me towards being an acquisition entrepreneur
28:35 VA for Off-market Deals...are there any recommended companies to use?
Renan had me at NYC & Military!
Reminder for July 2025 is set if Will doesn't invite Renan I will harass Will to bring Renan back hahah! WOW! what an episode and what a guy! Thank you will for bring all these people they're fuel me personally
Remind me Jesse!
Good to see how Renan discovered the world of SMB acquisitions 💡
Private sector medicine owned by big corp....smh....shameful!